FM: N Sitharaman on growth rate figures. Stock Market News.



What did Nirmala Sitharaman say on the growth rate figures?



In the third quarter, the country's economic growth rate was modest and it was 4.7 per cent. On this, Finance Minister Nirmala Sitharaman said on Friday that 'stability' in the economy is a good sign. On Friday, the central government presented the growth rate data.

The finance minister said he did not have high expectations in the figures. India's growth rate during the October-December quarter was 4.7 per cent. However, according to the National Statistics Office (NSO), the figure was 5.6 per cent in the same quarter last year.

Regarding the impact of the Coronavirus on the economy, the finance minister said that there was no need to rush, but he acknowledged, in talks with industry giants, that if the situation remained like this for the next two or three weeks, Then the challenges may increase.

Sitharaman said that the pharma and electronic industry in the Indian economy depend largely on raw materials from China. The finance minister has indicated that the government can also call for essential things by the air route. However, he emphasized the role of industry in it.

Sitharaman said the government is putting a lot of emphasis on banks, which has never happened before. The focus of the government is to give the banks maximum credit in all categories. The role of retail, housing and agriculture segment is most important in this. However, he said that the government has taken lessons from the year 2008-09 and is preparing to rein in the NPA for the coming time. Sitharaman said the government is involved in the construction of the Financial Development Institute. IDBI and ICICI are the only institutions that went on to become banks.

The Finance Minister said that the Ministry is doing everything possible to strengthen the economy and that the fiscal deficit is being monitored not to go beyond the control limits. He said that he was not shutting down the options in this regard.

He said that only when the industry has opportunities, the government helps. He said that it gets easier when the industry is told what kind of help it needs and how it can be done. The Finance Minister has said this in CNBC TV18 India Business Leaders, the most prestigious award in the corporate sector.

Let us tell you that in the third quarter of the current financial year, October-December, the country's economic GDP growth rate (India GDP Growth At 4.7% In Q3) has increased from 4.5% to 4.7%. Earlier in the July-September quarter, the country's GDP growth fell to 4.5 per cent. Experts say the improvement in economic data is a good sign. But if it goes above 5%, the whole picture of growth will be clear.

India is the best place for investment - Finance Minister said that many big investors met at the G-20 meeting. All these are ready to invest in India. He said India has immense growth potential. The bank is ready for anyone who wants to invest in India. But first, we have to deal with our existing problems. Soon the NPA will have to be overcome faster.

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